State economic development corp. under review

The group failed to track loans worth $12 million

1:12 PM,
Dec. 1, 2012

Written by

Mary Spicuzza and Dee J. Hall
Wisconsin State Journal

The state's top jobs agency said Friday that it hired a financial institution and an accounting company to review its financial practices after it failed to track loans totaling about $12 million.

And officials with the Wisconsin Economic Development Corp. said the quasi-public agency's failure to track millions of dollars in loans wasn't because of any misconduct they have uncovered, but rather because the agency - which lost more than 80 percent of its staff when it was created from the old Department of Commerce - didn't allocate the time or personnel needed to keep track of the money it ...